Canuc Resources reports 10.37 g/t Au intersected at Nambija, Ecuador

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TORONTO, Oct. 12 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") is pleased to report on recent underground sampling conducted at Nambija, Ecuador.

As previously reported, underground channel sampling is underway at Nambija in accessible drifts in order to increase our geological knowledge and better define the boundaries of the mineralization. The samples are being collected at approximately 10 meter intervals from both walls and the back (roof) of the drift with the initial focus being along the eastern El Tierrero structure. This mineralized structure has been defined on the property for a length of 450 meters and has a minimum width of 50 meters. 

Results to date continue to be encouraging with both copper and silver appearing more widespread and higher grade than returned in the drilling. The sample results further indicate that some apparent trends in the higher grade gold mineralization, both to the northeast and northwest, exist at El Tierrero and need to be investigated further. In regards to gold, the highest value returned to date is sample UG0249 which assayed 10.37 g/t gold over 1 meter. Immediately adjacent to channel sample UG0249, the assays varied between 0.26 and 1.24 g/t gold. Elsewhere at El Tierrero, clusters of samples occur generally ranging from 1.0 to 4.8 g/t gold. In many of the locations identified, elevated copper and / or silver is also present. The copper generally ranges from 0.15% to 0.25% with local clusters assaying greater than 0.40% copper. The highest copper value returned to date was from sample UG0290 which assayed 0.84% copper, 8 g/t silver and 0.121 g/t gold. Where these clusters are identified, closer spaced sampling and / or drilling will be conducted.

Drill results from holes N10 - 007, 008 and 009 have been returned. In drill hole N10 -007, 2 zones of relatively low grade copper were intersected, both containing geochemically anomalous gold.

Drill hole N10 - 008 was collared near the south end of El Tierrero targeting a small copper showing. The drill hole intersected scattered zones of low grade copper down to a depth of 103.63 meters. Of interest in this drill hole was a 4.57 meter intersection (54.86 - 59.43) grading 52.57 g/t silver and 0.11% copper. 

Drill hole N10 - 009 was collared in the Nambija valley and drilled vertically to a depth of 463.24 meters in order to better define the geology in the center of the host structure and test for skarn mineralization at depth. The drill hole was successful in locating 12 discreet zones of low grade copper mineralization between 176.78 and 460.24 meters. This mineralization is thought to be associated with a nearby porphyry system.  

Samples were submitted to Acme Analytical Laboratories in Cuenca, Ecuador, for preparation and shipping to Vancouver, B.C., for final analysis. Assaying for gold was conducted using standard fire assay on a 30-gram (one assay ton) sample with an ICP-ES finish procedure. Copper and silver analyses were completed using an ICP-MS procedure. Standards, blanks and check assays were included at regular intervals in each sample batch. Gold standards and certified blanks were obtained from CDN Resource Laboratories Ltd.

The exploration program at Nambija is being carried out under the supervision of Gary Lohman, P. Geo., a Qualified Person as defined under the terms of National Instrument 43-101, and he has reviewed and approved the contents of this press release.

About Canuc

Canuc is a junior mining exploration company with its principal properties located in Ecuador. Canuc's main holding today is an approximate 85% interest in the Nambija Gold Mine located in south-eastern Ecuador. According to records obtained from the Central Bank of Ecuador, it is estimated that, to date, nearly 3 million ounces of gold have been produced using the most primitive of mining and milling recovery processes from the Nambija area.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

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